Tip
Although the earliest you can start receiving Social Security retirement benefits is age 62 , you can actually apply for them if you are at least 61 years and 9 months old. That's because there is a three-month lag between the time you apply for benefits and the time you start receiving them.
So, don't forget to apply for Social Security benefits three months before your planned retirement date. Otherwise, your initial retirement budget will be short several thousand dollars (that you will need to somehow make up elsewhere).
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